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2019 (4) TMI 38 - AT - CustomsValuation - gold jewelry - price-revision clause - difference between the value of the import and the amounts paid for the exports - demand of differential customs duty, interest thereof and also for imposition of penalties u/s 114A and 114AA of the Customs Act, 1962 - Held that:- There is no dispute as to the enhanced value as accepted by the appellant and informed the Departmental Authorities on 22.12.2014 & 24.12.2014. The demand of the differential duty is also the same as is the amount paid by the appellant along with the interest - there is no dispute on differential duty and interest thereof and has been paid of, there being challenge by the appellant in the appeal that portion of the impugned order is upheld. Penalty u/s 114A of the Customs Act, 1962 - Held that:- In the case in hand, there is no dispute as to the fact that appellant themselves have come forward and informed the Department on 22.12.2014 and 24.12.2014 that there was a mis-declaration of the value on the gold jewelry imported and paid of the differential duty along with interest - the explanation put forth on behalf of the appellant that they were confused by the master circular of the Reserve Bank of India is acceptable and the penalty under Section 114A of the Customs Act, 1962, and there seems to be no suppression of facts with intent to evade tax; is unwarranted and needs to be set aside. Penalty u/s 114AA of the Customs Act, 1962 - Held that:- The appellant in this case has not declared the relationship between him and the exporter in the declaration which supposed to be filed that the authorities with the importing the consignment may be due to oversight. Definitely there is a lapse on the part of the appellant and penalty under Section 114AA gets attracted, however, since in the case in hand, the appellant came forward on his own and discharged of duty liability with interest, a lenient view is taken, penalty under Section 114AA is reduced the same to ₹ 5 lakhs. The penalty imposed under Section 114A is set aside and penalty under Section 114AA is reduced to ₹ 5 lakhs - appeal allowed in part.
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